Fuel Prices to Drop by Half a Shekel Next Week

The price of gasoline in Israel is expected to decrease by half a shekel starting early next week. The Ministry of Finance published a decree for public comment on Thursday, proposing a reduction in excise tax on gasoline by NIS 0.50. The decree will remain open for public input until Sunday. Following this period, Finance Minister Bezalel Smotrich is expected to sign the decree, pending review of any submitted comments. The ministry stated that the reduction will take effect immediately upon the minister's signature. Consequently, the updated, lower price at gas stations will be implemented at midnight between Sunday and Monday. This announcement follows previous reports on Smotrich's plan to lower fuel prices, which has now received preliminary approval. The core of the initiative involves reducing the excise tax levied on gasoline. With the decree now open for public comments, only the Finance Minister's signature remains to finalize the price cut. Assuming no significant changes arise from public feedback, drivers should see the reduced price at the pump starting Monday.